Ch.15.2 Vocab Review Word Scramble
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Term | Definition |
Financial Institution | Any organization that provides services related to money. |
Depository Institution | Financial institution that accepts money from customers and deposits it into the customer’s account. |
Deposit | Money placed into an account. |
Credit Union | Nonprofit financial institution that is privately owned and provides banking services for its members. |
Savings and Loan Institution | Financial institution that offers savings and loan services. |
Nondepository Institution | Financial institution that does not accept deposits. |
Securities Firm | Financial institution that is involved in trading securities in financial markets. |
Investment Bank | Financial institution that provides services for businesses. |
Financial Company | Financial institution that makes money by issuing loans. |
Checking Account | Bank account that allows the account owner to make deposits, write checks, and withdraw money |
Check | Written order for the bank to pay a specific amount to the person or organization to which the check is written |
Savings Account | Bank account used by depositors to accumulate money for future use. |
Line of Credit | Prearranged amount of credit that is available for a business to use as needed. |
Letter of Credit | Document guaranteeing that a buyer will pay the seller the agreed-upon amount and within the time specified. |
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CTE-ECOT
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